CBM to approve QR code payment transactions in Myanmar

Thursday 13 June 2019 10:31 CET | News

The Central Bank of Myanmar (CBM) is expected to approve UnionPay International’s QR code system through mobile phones in the following months of 2019, according to Myanmar Times.

A CBM’ official has stated that payments via QR code will be made available by the end of 2019 when a standard for such payments, MMQR, is implemented.

UnionPay International launched a guidebook on cashless transactions including with QR codes in June 2019 in anticipation of CBM’s approval of this mobile payment system. The main objective of this guidebook is to educate and prepare people for a cashless society.

Moreover, UnionPay is currently working on getting CBM’s approval for its QR code system to be implemented in the country.

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Keywords: CBM, QR code payments, Myanmar, MMQR, mobile payments
Countries: World